The Stocks Senators Unloaded Before the Coronavirus Crash
Senator Richard Burr has called for an ethics investigation into himself and three other senators who sold off stock after receiving classified briefings on the coronavirus threat.
Burr—a North Carolina Republican who is chairman of the Senate Intelligence Committee—sold up to $1.72 million in stock through Feb. 13, shortly before reassuring the public that the government had a handle on the coronavirus response. A week later, the S&P 500 Index started what would become a 30% drop, wiping out most gains made since President Donald Trump's inauguration.
In a tweet on Friday, Burr denied any wrongdoing, saying that he “relied solely on public news reports” to inform his decisions.
Here’s how well those stocks performed after he sold them.
How each security performed since Senator Burr sold shares
Axalta Coating
Bank of New York
AbbVie
Systems
Mellon Corp.
Colfax
CenturyLink
Dorman Products
FedEx
-25% since sold
-45% since sold
-35% since sold
-57% since sold
-26% since sold
-10% since sold
-30% since sold
$100
$30
$50
$40
$15
$80
$200
40
30
70
150
80
20
10
30
20
60
100
60
10
20
10
5
50
50
Fairfax Financial
Park Hotels &
Everest RE
Extended Stay
Wyndham Hotels
Holdings Ltd.
3M
Resorts
Group
America
Constellation Brands
& Brands
-63% since sold
-37% since sold
-14% since sold
-74% since sold
-35% since sold
-49% since sold
-39% since sold
$80
$500
$200
$30
$300
$15
$250
60
400
20
250
12
200
150
40
300
10
200
9
150
20
200
100
0
150
6
100
JAN.2
MAR.19
JAN.2
MAR.19
Orion Engineered
CSX
Carbons
GCI Liberty
Aon
-31% since sold
-52% since sold
-40% since sold
-31% since sold
$100
$20
$80
$250
80
15
60
200
60
10
40
5
40
150
JAN.2
MAR.19
JAN.2
MAR.19
JAN.2
MAR.19
JAN.2
MAR.19
A
x
alta Co
a
ting
Bank
o
f N
e
w
Y
ork
AbbVie
Systems
Mellon Corp.
Col
f
ax
Ce
n
turyLink
-25% since sold
-45% since sold
-35% since sold
-57% since sold
-26% since sold
$100
$30
#50
$40
$15
40
30
80
20
10
30
20
60
10
20
10
5
P
ark H
o
t
els &
F
air
f
ax Financial
Resorts
Dorman Products
F
edEx
Holdings Ltd.
3M
-74% since sold
-10% since sold
-30% since sold
-37% since sold
-14% since sold
$30
$80
$200
$500
$200
20
70
150
400
150
10
60
100
300
0
50
50
200
100
E
v
e
r
e
s
t RE
E
x
t
ended St
a
y
Wyndham H
o
t
els
Group
America
Con
s
t
ell
a
tion B
r
ands
& Brands
C
S
X
-35% since sold
-49% since sold
-39% since sold
-63% since sold
-31% since sold
$300
$15
$250
$80
$100
250
12
200
60
80
60
200
9
150
40
150
6
100
20
40
JAN.2
MAR.19
JAN.2
MAR.19
Orion Enginee
r
ed
Carbons
GCI Liberty
A
on
-52% since sold
-40% since sold
-31% since sold
$20
$80
$250
15
60
200
10
5
40
150
JAN.2
MAR.19
JAN.2
MAR.19
JAN.2
MAR.19
Axalta Coating
AbbVie
Systems
-25% since sold
-45% since sold
$100
$30
80
20
60
10
Bank of New York
Mellon Corp.
Colfax
-35% since sold
-57% since sold
$50
$40
40
30
30
20
20
10
CenturyLink
Dorman Products
-26% since sold
-10% since sold
$15
$80
70
10
60
5
50
Fairfax Financial
FedEx
Holdings Ltd.
-30% since sold
-37% since sold
$200
$500
150
400
100
300
50
200
Park Hotels &
3M
Resorts
-14% since sold
-74% since sold
$200
$30
20
150
10
100
0
Everest RE
Extended Stay
Group
America
-35% since sold
-49% since sold
$300
$15
250
12
200
9
150
6
Wyndham Hotels
Constellation Brands
& Brands
-63% since sold
-39% since sold
$80
$250
60
200
40
150
20
100
Orion Engineered
CSX
Carbons
-31% since sold
-52% since sold
$100
$20
80
15
60
10
40
5
GCI Liberty
Aon
-40% since sold
-31% since sold
$80
$250
60
200
40
150
JAN.2
MAR.19
JAN.2
MAR.19
Source: Bloomberg Data
Another senator under scrutiny, Georgia Republican Kelly Loeffler, sold off millions of dollars worth of stock beginning on Jan. 24, the day the health committee she sits on was briefed by U.S. public-health officials.
If Loeffler—who is married to New York Stock Exchange chairman Jeffrey Sprecher—had held onto those stocks, she would have lost up to $1.5 million.
How each security performed since Senator Loeffler first bought or sold shares
Discover
Residio
Keysight
Financial Services
Technologies
Comcast
Technologies
Ross Stores
Autozone
TJX Companies
-66% since bought
-55% since sold
-17% since sold
-10% since sold
-43% since sold
-24% since sold
-29% since sold
$100
$15
$50
$120
$150
$1.2K
$80
40
60
9
100
90
1.0
60
30
20
80
30
0.8
400
20
3
Honeywell
Kirkland
Tencent
Arena
International
Lake Gold
Pharmaceuticals
Funko
Roku
O'Reilly Automotive
Holdings
-33% since sold
-28% since sold
-12% since sold
-25% since sold
-52% since sold
-40% since sold
-25% since sold
$200
$50
$60
$60
$20
$150
$500
40
50
120
400
150
50
10
30
40
90
300
100
40
0
200
20
30
60
JAN.2
MAR.19
JAN.2
MAR.19
Euronet
Worldwide
Citrix Systems
Exxon Mobil
Oracle
-48% since sold
+3% since bought
-43% since sold
-19% since bought
$200
$150
$70
$60
150
50
120
50
100
40
50
90
30
30
JAN.2
MAR.19
JAN.2
MAR.19
JAN.2
MAR.19
JAN.2
MAR.19
Discover
Residio
Keysight
Financial Services
Technologies
Comcast
Technologies
Ross Stores
-66% since bought
-55% since sold
-17% since sold
-10% since sold
-43% since sold
$100
$15
$50
$120
$150
40
60
9
100
90
30
20
3
20
80
30
Honeywell
Kirkland
Tencent
International
Lake Gold
Holdings
Autozone
TJX Companies
-33% since sold
-28% since sold
-12% since sold
-24% since sold
-29% since sold
$200
$50
$60
$1.2K
$80
40
150
50
1.0
60
30
100
40
0.8
40
20
Arena
Euronet
Pharmaceuticals
Funko
Roku
O'Reilly Automotive
Worldwide
-25% since sold
-52% since sold
-40% since sold
-25% since sold
-48% since sold
$60
$20
$150
$500
$200
50
120
400
150
10
40
90
300
100
200
50
30
0
60
JAN.2
MAR.19
JAN.2
MAR.19
Citrix Systems
Exxon Mobil
Oracle
+3% since bought
-43% since sold
-19% since bought
$150
$70
$60
50
120
50
40
90
30
30
JAN.2
MAR.19
JAN.2
MAR.19
JAN.2
MAR.19
Discover
Residio
Financial Services
Technologies
-66% since bought
-55% since sold
$100
$15
60
9
20
3
Keysight
Comcast
Technologies
-17% since sold
-10% since sold
$50
$120
40
100
30
20
80
Ross Stores
Autozone
-43% since sold
-24% since sold
$150
$1200
90
1000
30
800
Honeywell
International
TJX Companies
-33% since sold
-29% since sold
$200
$80
150
60
100
40
Kirkland
Tencent Holdings
Lake Gold
-28% since sold
-12% since sold
$50
$60
40
50
30
20
40
Arena
Pharmaceuticals
Funko
-25% since sold
-52% since sold
$60
$20
50
10
40
30
0
Roku
O'Reilly Automotive
-40% since sold
-25% since sold
$150
$500
120
400
90
300
60
200
Euronet
Worldwide
Citrix Systems
-48% since sold
+3% since bought
$200
$150
150
120
100
50
90
Exxon Mobil
Oracle
-43% since sold
-19% since bought
$70
$60
50
50
40
30
30
JAN.2
MAR.19
JAN.2
MAR.19
Source: Bloomberg Data
Other senators including Dianne Feinstein—a Democrat from California—and Oklahoma Republican James Inhofe, also sold assets after the Jan. 24 briefing. In tweets, Feinstein and Inhofe both denied attending the meeting. Feinstein added that her assets were held in a blind trust, while Inhofe called allegations of wrongdoing "baseless" and "false."